Already, the situation feels more positive. Estate Agent Today reports that: “Demand across the UK from prospective buyers increased by 28% in the four days after the election compared to the same four days in 2018, with the biggest jump recorded in London, up 54% year-on-year.”
Rightmove’s housing market analyst, Miles Shipside, said: “Some of the pent-up demand from the ‘wait-and-see’ buyers is starting to show signs of being released.”
Many property experts are predicting an early spring ‘bounce’ as those who have been waiting for less instability before taking action bring to life their plans to move. Greater political certainty could lead to a slight increase in property sales in early 2020, taking transactions above the 100,000 monthly average.
Lucy Pendleton told Estate Agent Today: “The UK is certainly experiencing a resurgence in activity but we won’t know for a couple of months whether, on balance, this will begin to push prices higher or whether greater supply will have a moderating influence while brokers and agents enjoy a pick-up in volumes.”
Whilst activity levels are forecast to increase, property prices are predicted to see little growth. Popular, professional belief is that increases of 1% – 3% will be seen in 2020.
Jason Dyer of JTM Homes says: “Property sales were hit hard by the uncertainty experienced last year. Already, we are seeing greater movement within the north London market. We are optimistic that, despite Brexit, this trend will continue during the coming year.”
Are you thinking of selling or letting your north London property? Talk to the friendly experts at JTM Homes. We specialise in the local property market and can get you moving, fast.